Adviser team managing $340 million at UBS goes indie with Kestra

Jeffrey Boudjouk, two other advisers and assistant set up hybrid in Rhode Island.
JUN 07, 2018

A team of advisers who formerly managed $340 million at UBS in Cranston, R.I., have left the firm and established a hybrid, Northeast Investment Group, which has affiliated Kestra Financial. The new firm will use Kestra's broker-dealer and registered investment advisory platforms. Northeast is led by managing partners Jeffrey Boudjouk and Anthony Landi, and includes partner Deborah Shuster and Kelly Almonte, the firm's client relationship manager. The new firm's advisers have been in the securities industry for decades and worked for several large firms. They all left UBS recently, except for Mr. Boudjouk, who was discharged by the firm last December. According to his BrokerCheck record, he was discharged for "failing to timely disclose a litigation and for a repeated failure to notify the firm of his deposition in that litigation; and for providing confidential client information and privileged documents to the parties of the litigation, both in violation of the firm's code of conduct and the firm's communication policies."

Latest News

More Americans are invested in the elections than the stock market
More Americans are invested in the elections than the stock market

A substantial number of people in a new 2,200-person survey believe their wealth, their "wallet power" and their retirement timelines are at stake.

Stocks rally to fresh highs as JPMorgan drives bank gains
Stocks rally to fresh highs as JPMorgan drives bank gains

The S&P 500 headed toward its 45th record in the year helped in part by a surprise interest income gain at the Wall Street giant.

Boosting payouts on cash crimps wealth management at Wells Fargo
Boosting payouts on cash crimps wealth management at Wells Fargo

Meanwhile, Wells Fargo’s WIM group reported close to $2.3 trillion at the end of last month.

Another AI-washing case shows where SEC is headed
Another AI-washing case shows where SEC is headed

The Securities and Exchange Commission has focused on "black-and-white" allegations of AI washing, but that could broaden out to a gray area that may loop in more financial services companies, a lawyer says.

High-net-worth giving splits along generational and gender lines, find BofA survey
High-net-worth giving splits along generational and gender lines, find BofA survey

More than nine in 10 HNWIs prioritize charitable giving, but demographics help shape the whys and the hows.

SPONSORED Destiny Wealth Partners: RIA Team of the Year shares keys to success

Discover the award-winning strategies behind Destiny Wealth Partners' client-centric approach.

SPONSORED Explore four opportunities to elevate advisor-client relationships

Morningstar’s Joe Agostinelli highlights strategies for advisors to deepen client engagement and drive success